CD rates at Sallie Mae Bank, the online banking division of the student loan company Sallie Mae are very competitive right now. In fact, Sallie Mae Bank probably has the best CD rates on 1 year certificates of deposit. You can find the best CD rates monitorbankrates.com by searching online for the highest CD rates.
The current 1 year bank CD rates are at 1.14% with bank CD yields at 1.15%. That rate has to be one of the highest CD rates at banks anywhere for a 1 year certificate of deposit. That rate is also much higher than the average 1 year CD r
Sallie Mae CD rates are also advertise for 3 year certificates of deposit and 5 year certificates of deposit. Current 3 year CD rates are at 1.29% with a CD yields at 1.30%. 60 month Bank CD rates are advertised at 1.59% with CD yields at 1.60%. You can use a CD Calculator to calculate how much interest you can earn at these rates.
Sallie Mae Bank CD Account Benefits
- Interest is compounded daily and credited to the account monthly.
- Early withdrawal penalties are 3 months of simple interest for CD accounts 12 months or less.
- Early withdrawal penalties for CD accounts greater than 12 months are 6 months simple interest.
- Accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000. FDIC Cert number is 58177.
- No minimum account balance.
- No monthly account fees.
For a list of current Sallie Mae CD rates and to open an account go to: Sallie Mae CD Rates and CD Account Application